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Buying or Selling an eCommerce Business? Here is the ultimate checklist for a smooth transition!

eCommerce Checklist

Buying or Selling an eCommerce Business? Here is the ultimate checklist for a smooth transition!

Are you ready to take the plunge and acquire or sell an eCommerce business? Whether you’re the buyer or seller, it’s important to follow a comprehensive checklist to ensure a smooth transition of ownership. But don’t worry, we’ve got you covered! In this article, we’re going to provide you with a fun and engaging checklist of steps for acquiring or preparing an eCommerce business.

For Buyers

1. Grab that domain name!

First things first, you’ll want to transfer ownership of the domain name to your name or your business. So, get your hands on that domain and make it yours! You will need to contact the current business owner and request a transfer of ownership. If you would like to host your domain name is with us, we can help with this process. Once completed, you will own the domain name and will receive notifications when the domain is close to expiry.

2. Get social (media)!

The eCommerce business you’re acquiring likely has an established presence on social media platforms like Facebook, Instagram, and Twitter. You’ll need to transfer ownership of these accounts to your name or your business. Think of it as a social media makeover! This may involve changing login credentials, updating profile information, and notifying followers of the transfer.

In Facebook, you will need a Facebook account, then the current owner can set you as an owner or admin of the page.

3. Money, money, money!

When acquiring an eCommerce business, you may need to set up new payment gateways to receive payments from customers. This can involve setting up new accounts for payment gateways such as Paypal, Stripe, Afterpay, etc. Once setup, we can connect your new website, configure the settings, and test the functionality to ensure that it’s working correctly.

4. Stay in touch with your customers!

To keep your customers informed about new products and promotions, you’ll need to set up a newsletter service like Mailchimp. This can be a great way to stay in touch with your customer base and keep them coming back for more. This can involve importing the existing subscriber list, creating new templates, and testing the newsletter to ensure that it’s working correctly.

For Sellers

1. Pass the domain torch!

As a seller, it’s time to pass on the domain name to the new owner. This can involve unlocking the domain, disabling any domain privacy settings, and providing the buyer with the authorization code needed to transfer the domain. It’s time to say goodbye to that domain you’ve owned for so long. If your domain name is with us, we can help with this process.

2. Social media, no more!

Similar to the domain name, you’ll need to transfer ownership of the social media accounts associated with the eCommerce business to the buyer. This is your chance to say farewell to all those Facebook and Instagram posts. Change the login credentials, update the profile information, and notify followers of the transfer.

Facebook:

To assign or change a Page owner:
1. Log in to Facebook, then click your profile photo in the top right.
2. Select the Page you want to use.
3. Click your Page photo in the top right.
4. Select Settings & privacy, then select Settings.
5. In the left menu, select New Pages experience, then select Page transparency.
6. Below Claim this Page, click Manage.
7. Select a verified organisation to claim responsibility for your Page, then click Assign.

Instagram:

1. Open the Instagram app on your mobile device.
2. Click the Settings icon. This can be found near the top right of the profile page.
3. If Two-Factor Authentication is enabled, you will need to disable it. You can do this bu tapping the Two-factor Authentication link in the settings.
4. In Settings, click on Linked Accounts. Make sure that your Buyer has access to any accounts you plan to transfer that are listed here (ie. Facebook Business Page, Twitter Account). If there are any linked accounts you will be not transferring to your Buyer, you will remove them here.
5. In Settings, click on Payments. Under “Profile” and “Security”, remove any credit cards or PINs on file.
6. To change the contact information on file, click Edit Profile. Then scroll down to the “Private Information” header.
7. Remove the phone number and click “Next”.
8. Lastly, edit the email to match the Buyer’s email address. Once you do this, click “Done”.
9. If Instagram sends an email asking you to confirm this change by clicking an “It was me” button, forward this email to the Buyer so that they can confirm this themselves.

3. Payment update!

As a seller, it is best to remove any payment gateways connections on the website and let the new owner add their accounts. It’s time to hand over the keys to the payment gateway kingdom. We find that it is best to setup a changeover date, then put the website in maintenance mode while this is happening.

4. Newsletter transfer!

If the eCommerce business has an established newsletter service, you’ll need to transfer ownership of the account to the buyer. This may involve transferring ownership of the account, providing login credentials, and giving the buyer access to the subscriber list. Don’t forget to wave goodbye to those newsletter templates you spent so long creating.

Conclusion

Acquiring or preparing an eCommerce business can be a daunting task, but by following this fun and engaging checklist of steps, you can ensure a smooth transition of ownership. So, get ready to grab that domain name, update those social media accounts, set up new payment gateways, and keep in touch with your customers. With these steps, you’ll be on your way to a successful acquisition or sale of the eCommerce business.

Carly Murray
Carly Murray
Don’t let her quiet persona fool you! Carly is the creative assassin of digital design. Leaving no div open, she executes her coding with deadly accuracy, giving her designs bulletproof functionality. Having worked in agencies around the globe Carly has brought her talent and expertise to the front-line of the Mediamojo web and graphic design team Noosa. We’re just glad she’s on our side!

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